Enoc Group has signed a joint venture agreement with Proserv Egypt to set up Enoc Misr, its first on-ground operations in the lubricants sector in Egypt.
The agreement marks Enoc Group’s physical presence in Egypt as part of its wider plans to expand internationally into key markets, including Africa, the company said in a statement.
Through the JV agreement, Enoc Misr will market and distribute Enoc’s full range of lubricants to the commercial, industrial and marine sectors locally in the Egyptian market.
Saif Humaid Al Falasi, Group CEO, Enoc, said: “We are proud to establish Enoc Misr as it offers a unique opportunity for knowledge sharing between us and industry experts like Proserv Egypt.”
Ahmed Hashem, chairman, Proserv Group, added: “Our partnership with Enoc to establish Enoc Misr is a strategic move in line with our efforts to further enhance our market offering and explore new opportunities. We are confident that Enoc Misr will be a key game changer in the future of Egyptian downstream market.”
Enoc’s product portfolio includes a diverse offering of lubricants services and products, in addition to jet fuel, liquefied petroleum gas (LPG), lubricants, bulk fuel, aviation, marine and alternative fuel such as compressed natural gas (CNG).
The group’s products are distributed in over 60 markets in the Middle East, Indian Subcontinent, South & Central Asia and Africa.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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